New energy vehicle sales to rise in 2018

New-energy vehicles (NEVs) are expected to see sales growth of around 40 percent in 2018, an industry association said on Thursday. Sales of NEVs will definitely top 1 million vehicles this year, one official from the China Association of Automobile Manufacturers told a news conference. The Ministry of Finance said in December that it will extend a tax rebate on purchases of NEVs until the end of 2020, a boost for hybrid and electric car makers amid a shift by policy—makers away from the traditional internal combustion engines.